Mining duties and pre-operative expenses

Mining duties and pre-operative expenses

After more than a decade of constant growth for the Mining Industry in Mexico, during 2013 the value of the mining-metallurgic production suffered a noticeable impact; it was a complicated year for the industry that included a combination of aspects like an adverse worldwide economic context as well as the price changes in some of the main metal commodities.

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In previous years Mexico represented an atractive economic destination for foreign investors, not only due to the amount of potentially extractable minerals in the Mexican territory, the qualified labor force, or even the vast experience in exploration and extraction methods; but also due to the tax regime that used to be in force which generally comprised low effective tax rates. All these elements represented thoroughly an effective strategy to attract worldwide investment.